Ha Tien 1 reports loss, Vietnam

Ha Tien 1 reports loss, Vietnam
Published: 02 November 2010

Ha Tien 1 Cement JSC (HT1), listed on the Hochiminh Stock Exchange, said it made a loss of VND22.34bn in the third quarter.

Its revenues rose 18% YoY to VND1.136trn during the period, the Thoi bao Kinh te newspaper reported.

The firm attributed the high prices of imported clinker, coal and diesel to the loss.

In the first half of this year, HT1 made a net profit of VND104.92bn on revenues of VND1.842trn, rising 35.06% and 43.01% from a year earlier, respectively.

HT1, completing the acquisition of Ha Tien 2 Cement JSC (HT2) in July, now has a registered capital of VND1.98trn, ranking among 50 biggest stocks on the local stock market.

The cement firm targets a pretax profit of VND320bn (US$16.84m), and a dividend payout equivalent to VND500/share in 2010.